Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,000 shares of the software's stock, valued at approximately $1,309,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in Altair Engineering by 31.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after purchasing an additional 94,219 shares during the period. Fisher Asset Management LLC lifted its holdings in Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock worth $38,358,000 after buying an additional 85,303 shares in the last quarter. New York Life Investment Management LLC boosted its position in Altair Engineering by 1,103.3% in the 4th quarter. New York Life Investment Management LLC now owns 76,363 shares of the software's stock valued at $8,332,000 after buying an additional 70,017 shares during the period. State Street Corp grew its stake in shares of Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock worth $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Finally, Versor Investments LP increased its position in shares of Altair Engineering by 1,069.9% during the fourth quarter. Versor Investments LP now owns 59,655 shares of the software's stock worth $6,509,000 after acquiring an additional 54,556 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CRO Nelson Dias sold 1,671 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $185,982.30. Following the completion of the sale, the executive now owns 55,411 shares in the company, valued at $6,167,244.30. This represents a 2.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company's stock, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,220 shares of company stock valued at $1,470,974 over the last quarter. Company insiders own 21.75% of the company's stock.
Altair Engineering Trading Up 0.2 %
Shares of NASDAQ ALTR traded up $0.21 during mid-day trading on Friday, reaching $111.75. The company had a trading volume of 1,906,881 shares, compared to its average volume of 653,928. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The stock has a market cap of $9.59 billion, a P/E ratio of 657.35, a PEG ratio of 10.75 and a beta of 1.45. The firm has a 50 day simple moving average of $110.88 and a two-hundred day simple moving average of $104.35.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, equities analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts have weighed in on ALTR shares. Rosenblatt Securities restated a "neutral" rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, Altair Engineering currently has a consensus rating of "Hold" and a consensus target price of $100.83.
Get Our Latest Stock Analysis on ALTR
Altair Engineering Profile
(
Free Report)
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.
Further Reading
Before you consider Altair Engineering, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Altair Engineering wasn't on the list.
While Altair Engineering currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
